What Are The Stakeholders Of The Better Business Bureau

The author Robert Solomon argues that ethics has to an integral part with regard to business management. He does not believe that business management must include unethical or illegal methods to be able to succeed. Solomon preaches that business management is not as simple as obtaining revenue. “Businesses need to abide by fair policies and their owners have to be ethical in dealing with their customers” (Shaw p. 37). The author acknowledges that while illegal practices in business management could bring positive results at first, eventually the business is bound to fail. This is why Solomon recommended eight important policies that can help businesses in integrating ethics into their operations.

Creating an adequate monitoring system not only protects the best interest of an organization but the consumer also. Furthermore, without these structured protections for the business and consumers, unethical behavior tends to flourish throughout an organization in several different forms. In the case of the Better Business Bureau, it appears that the proper protections were not in place to protect consumers or the organization should have updated its mission statement to account for the many consumer changes since the use of the internet globalized businesses. Furthermore, the leaders of BBB should have worked harder to ensure that employees and companies were punished for allowing his or her unethical behavior to tarnish the organization’s image.

I and two other individuals have agreed to start a business that will provide management consulting services to nonprofit organizations. Because of the increased scrutiny on actions of corporations and those who act on behalf of organizations, we have determined that it would be essential to have our ethics program developed before we start offering our services. A business as a moral agent must prove that it has an effective ethics program to protect employees, the corporation, and businesses that the company will serve. It is also important to have an ethics program to support the ethical values of our corporation and to make it clear to employees what is acceptable behavior, and to make clear what policies and standards are to be

An initial new hire and employee ethics training has to be develop and administered. Also on-going ethics refresher training for use throughout the employees career with Company Q will need to be incorporated in the program. Systems will be developed and put in place to monitor, audit, and report ethics violations. A time-line to re-evaluate these programs and their effectiveness towards meeting the companies social responsibility goals will be established. Based on the evaluation a revision or revamp of the program if necessary will be initiated. The ethics program needs to be reviewed and understood by all employees and expectation for compliance very clear. This can be accomplish by tying compliance in some form to employees and leadership individual performance goals. Shareholders all the way down to entry-level employees will benefit from the ethics program which will also put the company on track to being more socially responsible. Once a code of ethics is in place and training has been given, then Company Q can begin developing trust within the company and employees as well as the community. Continued education and training will enable the company to become more socially responsible.

The Consumer Financial Protection Bureau (“CFPB”) is tasked with writing and enforcing rules for financial entities to protect consumers from unfair, deceptive or otherwise harmful practices by such entities. A major area of focus for the CFPB is a robust and effective oversight of a financial institution’s third-party providers (vendors) to ensure consumers are not exposed to unnecessary risk of financial or personal harm.

The Better Business Bureau (BBB) is a well known self-regulatory trade association in the United States. Companies that adhere to self regulation standards meaning the business will exhibit best practices and social responsibility. The BBB creates self regulatory programs for its members and uses the internet, newspaper, and media to inform the public of businesses who have violated self regulatory rules. The BBB's membership dues are around $425. The BBB's purpose is to establish a place of trust between business and consumers, as well as, dispute and complaint resolution services, reliability reports, and arbitration.

The Better Business Bureau is believed to have a reputation of protecting consumers and businesses from fraudulent scammers and unreliable firms, there were several unethical occurrences and allegations that led consumers to feel otherwise towards a company that has the reputation of trust. According to the Ermongkonchai (2010) study, “the main reason of employee misconduct was identified with personal or financial gain” (Pg125). It appeared that the Better Business Bureau had several bouts of unethical misconduct that lead to a ruined reputation and questioning of the firm's values.

For many years I had very high standards and respect for the Better Business Bureau. When many people used the words Better Business Bureau it was a safe guard for many consumer interest and helped resolve their grievances against erring companies. When the adult reader looks at Better Business Bureau logo it states “ Start With Trust”. And it is the word trust that stays in many consumers mind. I really think that Better Business Bureau sometimes caters to the paying customers only. For example, if I have a company X I pay a membership fee to the BBB to be on their list and keep up my rating. Which means if someone like yourself goes to the BBB website and see how I handle my complaints and keep up my rating; it tells the customer

While the Better Business Bureau is set into place to set ethical guidelines and standards for companies to follow and customers to benefit from, this does not prevent unethical and dishonest actions from happening. Similar to the Red Cross Foundation, it appears that when organizations have many or several local chapters it makes it extremely difficult to monitor them through their everyday functions. I do not feel that the Better Business Bureau is effective in ensuring that companies behave ethically to protect the consumer, due to the fact that many organizations have memberships with the company. I do feel like this skews the ratings and leaves an excessive amount of room for error and unethical mismanagement.In my opinion, it seems rather

I feel both businesses and consumers are important stakeholders for the Better Business Bureau. The income for operating the Better Business Bureau comes from the businesses, and the Better Business Bureau is certainly aware of its income source in the same capacity that other businesses depend on consumers for income. The stakeholders depend on the Better Business Bureau for information on businesses’ conduct and complaints. If I were a stakeholder, the steps that I would like to see the company take to ensure that the consumer is protected and this ethical misconduct does not happen again is to regulate the pay to play chapters. These are the chapters giving the firm a bad name. I would also like to be the first (instead of the consumer)

Although the rules say that they are still trying to encourage ethics and strength of character, the market is driven by greed, so it causes a significant ethical dilemma. Compliance staff is in charge of making sure that the employees are following ethical codes, but having a compliance staff doesn’t mean that the company is doing everything ethically, because the compliance staff could be unethical as

This memo serves as notice that we will soon initiate efforts to develop and implement an ethics program as well as the appropriate training and an effective way to monitor those plans. As you are aware, consumers and partners want to work with companies they can trust, and having a program that will build management skills and effectively structure business controls is a great way to become transparent and build that trust. Overall, an effective ethics and compliance

Today’s business world presents numerous ethical issues. In today’s world above board/moral ethics in organizations do not often materialize intuitively. Organization must strive to provide employees with a clear understanding of the overall company vision. This will aid employees in practicing the code of ethics, policies and procedures in the workplace. Companies must be unwavering in continuously delivering the uppermost ethics of provision in which customers, applicants and employees are entitled to under fair business practices. One major core value is to uphold responsible and fair business practices.

Dispute resolution represents an alternative to costly litigation, is an efficient, cost-effective way to resolve disputes between businesses and customers. BBBs at the local level helped consumers resolve nearly a million complaints in 2011. At the national level, Council of Better Business Bureau (CBBB) continue to maintain dispute resolution services for several major industries. CBBB also expanded its out-of-court dispute resolution system to a broader section of the marketplace. In 2011, CBBB managed several court-approved class action settlements per the terms of the settlement. CBBB also provided dispute resolution to national companies that have chosen to write BBB into their customer agreements. In conjunction with local BBBs,

Every organization also has a profession responsibility to conduct business honestly and ethically. Our readings reported, “Experts estimated that U.S. companies lose about $600 billion a year from unethical and criminal behavior” Kinicki and Kreitner (2009). The organization could avoid having ethical issues by meeting the